Scorum 0.0077$ | Scam or Discount?
The Scorum price has been in a steep downfall for a while and reached a new an all-time low of 0.0077$ on Hotbit. I'm honestly tempted to buy and pick some more SCR up but simply can't because I'm torn between seeing it as a Scam or a Discount. I lined up some arguments for both sides in this post... Reasons for Scorum to trade at Discount PriceWorking Blogging Platform While the platform is just a Steemit clone and is getting a lot of competition from,,, it still is the best looking front page interface by far and everything works as it should. Betscorum The 0% Fee betting exchange solves the main problem that needs solving in the multi-billion Sports Betting industry. It has a really user-friendly interface and works well enough despite only having soccer on offer. It has a betting license and gets betting event data from an outside source. Despite some bugs that occur at times, it is by far still the best solution to take bets on a blockchain. Community Even though more people are leaving and none are really coming in, there is still enough activity and initiatives not to make the platform look and feel completely dead. The current market cap of ~200.000 $ is literally nothing for a project like this and it's potential. If only there were not so many indications that everyone is getting played and that it's just another crypto scam. Reasons for Scorum to be a ScamPrice Action The price pretty much continues to dump and is now down to 0.0077$ coming from a 1.00$ ICO Price. There are basically only sellers and no real buyers because everyone understands that there is something fundamentally wrong on the platforms right now. Also, the fact that the devs don't seem to be buying up their own coins at this price if they still stand behind their project says a lot. ( hotbit )Devs are out of Funds From what I understand they got around 5 Million worth of ETH from ICO investors and everything is gone because they kept all of it in ETH during the crypto market crash. I'm not sure exactly how that works or if it can actually be checked. Broken Post Payouts It took forever to make a simple fix no longer showing 1 SCR as 1 Dollar in the wallet but it seems to be finally fixed now. Next up are the post-payout $ amounts which still makes the blogging platform very much look like a scam to anyone who comes in not knowing it's actually SCR (which is worthless) instead of US Dollar ($). I guess the devs think making people who visit Scorum for the first time see $$$ amounts makes it more attractive saying $ stands for 'money'. The fact that these things don't just get fixed instantly makes it hard to put any faith in the project. Broken Communication There has been a pattern of months of complete radio silence, followed by the community getting worried about an exit scam and getting more vocal about it as the price continues to collapse. This is usually followed by an update by the devs with empty promises to quiet things down after which this cycle starts all over. Devs moved to new Project? The team is now working on a centralized bookmaker saying it's a completely different project and that it will be used to gain funding for scorum which makes no real sense to me as it shows quite a big conflict. Users Leaving & Dumping Socrum has some good momentum at the start, but instead of activity increasing, it actually went down by a lot. There are a lot of bloggers that used to post2mine on a daily basis but nearly all of them gave up because of the price decline and the fact that it's hard to see SCR one day being worth something is things continue like this. The same went for Betscorum where the volume went up week by week at the start but has declined to the point where there is just no action whatsoever. Many of the bloggers and bettors who got in early earning or buying coins are now dumping their bags even at these prices. The only sensible reason to sell right now is if you believe the project is an actual scam. Userbase Posts & Comments The platform is pretty much full of posts and comments with desperation about the team and the project in general and there are very few still optimistic about it all. Devs just seem to watch and see their own platform burn while not doing anything about it as if they want it to be that way. ... It would be nice to see some actions by the devs that show that they actually stand behind their own platform. Things that come to mind that would already do a lot are: Improved communication with regular updates to keep the community updated Listen to the Community and work with them Fixing post-payout amounts Add new Sports to Betscorum Tools to easily act as a bookie on Betscorum Buy up their own Coins at these Prices... I'm tired of trying to figure out this project and where it is going as none of it makes any sense. Let me know in the comments if you think Scorum is a scam, at a discount or if you are in between not knowing what you have to do right now.